A list of all scam unregulated 3rd party educational vendors

Quote from austinp:

Educators registered as NFA members have tight restrictions on what they can promote to the public... starting with any references on actual profits made in real accounts with real money or anything otherwise.

All text or recorded videos that reference profits, potential profits in any manner must be submitted to the NFA for scrutiny before publication. That process of course takes forever and three days to complete.

Educators are required to post standard CFTC disclaimers on hypothetical trade results because anything that happened in the past without every single person who ever views the material in that trade for the exact fills entered & exited would be assumed hypothetical to achieve the same.

Bottom line is the NFA is tough, they are very restrictive to the point of stifling when it comes to educational promotion. Members cannot discuss their own trading results even when it includes real money in real time unless first cleared by the NFA in each instance separately.

It sounds like this person in question violated a lot of rules, needless to say. The NFA does have teeth, they do levy big fines where necessary and should take massive action against this person or entity in question.
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Thanks very much for that. My guess is that an educator who falsely claimed to have an award or falsely claimed to have won a trading competition would not be favourably looked on by the NFA. Presumably using false information like this in advertising would be considered a breach of the NFA code.
 
Quote from maltatrader:

Thanks very much for that. My guess is that an educator who falsely claimed to have an award or falsely claimed to have won a trading competition would not be favourably looked on by the NFA. Presumably using false information like this in advertising would be considered a breach of the NFA code.
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Definitely... NFA would be the first phone call to make, I would not let one day pass without doing that. Regulatory agencies exist for a reason, they do the best they can with what they have to work with.

A couple of weeks ago I saw a tv commercial on some FX company offering education and potential to trade their capital. It is obviously a big operation and they obviously appeal to the masses seeking opportunity with no money down.

Imagine being able to trade like a pro within weeks or days, while using the company's funds to live the trader lifestyle with. That's an easy sell all day long... but I wonder how many people actually qualify for funding as heavily promoted.
 
Quote from austinp:

Definitely... NFA would be the first phone call to make, I would not let one day pass without doing that. Regulatory agencies exist for a reason, they do the best they can with what they have to work with.

A couple of weeks ago I saw a tv commercial on some FX company offering education and potential to trade their capital. It is obviously a big operation and they obviously appeal to the masses seeking opportunity with no money down.

Imagine being able to trade like a pro within weeks or days, while using the company's funds to live the trader lifestyle with. That's an easy sell all day long... but I wonder how many people actually qualify for funding as heavily promoted.
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There are a lot of companies in the UK offering these schemes but advertising them as jobs. So you pay them a fee for training and if you make it they will offer you a 'job', in theory. What normally happens is that the training isnt good enough to make you profitable so you never get to the 'job' stage meanwhile they collect the training fee and move on to the next sucker.
 
Updated List:

Rockwell trading
TraderInternational
DayTradeToWin
eMiniDayTrader.com
nexgen
priceactionroom.com
eminitradingcourse.com
blackjacktrader.com
Millenium-Traders
tradingonlinemadeeasy.com
easyeminitrade.com
vantagepointsoftwares.info
winborntraders.com
Mike Baghdady of Training Traders
http://www.3minutetrader.com/alerts/
http://www.2stocktrading.com/index.php
http://www.killingstocks.com/
bill duryea of ioamt.com
Rhythm of the Markets
Options Magic
TradQuest Systems
eminijunkie.com
Dave Wright "Wave Rider/Trend Catcher"
Bullseyetraders (Franz Shoar)
ShadowTraders (not the TDAmeritrade)
School of Trade SOT
http://www.james16group.us/
http://www.neweratrader.com/
ktrader.com Oliver Velez and Greg Capra, founders of Pristine.com and Mastertrader.com,iFundTrader.com
Woodies CCI Club
Larry Levin Secrets of Traders
ORDERFLOWANALYTICS.COM
the Pro Trading LLC Richard Regan
 
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EMG, question:

How many educators are rolling / combining 'training' with a 'trading account' ? Should there be the almighty asterisk * ? Is that an inflection point for garnering additional industry and regulatory scrutiny and oversight ?
 
Quote from rallycar:

Has anyone wasted their money on products from orderflowanalytics.com ?

They are real slick with their sales pitches, great graphics etc etc. But try and get them to show you some real proof that what they are trying to get you to part with your money for and then its another story. They go straight on the defensive with all the normal snake in the grass side winding and playing with words.

be real careful not to get duped by their "free" testing on some of your trades, pure b"····it.
A year ago with my lack of experience they would have duped me out of 1800.00 bucks.

Dont get sucked in by these sharks!

ORDERFLOWANALYTICS.COM save your money, keep clear of them
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Agree with Rallycar! orderflowanalytics.com is a complete scam as well! And so is there "trade manager". Quote from their message:"We don't offer monthly licenses for our products only lifetime licenses. We don't offer free trials either". In other words no you can't try it and when you buy it you're gonna pay for it for the rest of your life!

No physical address
No phonenr.
"You can't contact us, we'll contact you"
No trial
Sentenced to usage of their crap for life
etc.

No doubt about it EMG, this one we can add to the list as well! With this one as well you would have payed several thousand dollars for... For what? Yep, complete and total crap!



ORDERFLOWANALYTICS.COM can be added to the list :D !!
 
Do you guys have any idea how much some of these vendors make annually?

I have source (will not name) one of the vendor from the list makes at least $280K annual selling $5K lifetime indicator.

Churn and Burn!
 
Thanks for this great thread. I hope it becomes a sticky.

Here's some of my own scam list. Some are forex-related. There are hundreds more reviewed / reported forex scams on www.forexpeacearmy.com. But you have to sift through the fake reviews by shills too.

www.gorillagaps.com
www.triplestrike.com
www.3stepislandtrader.com - hilarious opening music. "finally profitable" whistling! LOL
and more sites, i.e. anything by Mark Deaton , makes new websites every six months and abandons the old ones floating in cyberspace flotsom. people promised live trading webinars are left hanging after 2 weeks as the old site is abandoned!
www.tripletrend.com - Ken Ruth, weekly futures trading on Stoch 2?, ha!, periodically fudged equity records. I kept track for 6 months.
www.topdogtrading.com - "Dr." Barry Burns, this guy finds stuff ,then rewrites it into new "education" and sells it. I've seen his live trading webinars. Can't trade anything. just goes back and forth scrolling ,and after the fact comments.
www.dynamictrading.com - Robert C. Miner, more losing newsletter signals, pricy Elliot wave counting software
www.optionetics.com - George Fontanills, seminars, software, "advanced" courses, and selling during the seminars, repeat
penny stock millionaire - Timothy Sykes (I finally got my refund from WIA thankfully)
www.moneyshow.com - most anything on there. tons of spam email
http://tradersadvantage.investorplace.com/ - Jon Markman, horrible signal service option calls. seems like the whole service was outsourced.
www.investorplace.com - most anything on there. tons of spam email
www.tradingmarkets.com - Connors group, powerratings, "the Machine", try using a dartboard instead.
http://www.forex-trading-made-ez.com/ , tries to fool you into doing everything with pencil and paper, including point and figure charts
http://lmt-forex-formula.com/welcome.html - this is just one of scores of systems like this from "Old Tree Publishing"

A couple of them could have been "famous" traders in the 80s with their popular old trading books. With their methods no longer working in today's market and the pits dying, they join these "educational" "advisory" conglomerate trading media sites bandwagon, i.e. spam email, and ads disguised as webinars and commentary. Ads for bogus newsletters and generic signal services which the unwary will lose their money on. Some are just tv journalists and book writers.



emg, I'm curious about your listing of Woodies CCI Club. I agree with it being on the list in general. Did you hear about the dramatics about it? Like the doctor's tragedy when he found out it was a scam? or about the coolaid fascist behavior of the chat rooms and schism of some advanced students?
 
Quote from cloudy:


tradingmarkets.com - Connors group, powerratings, "the Machine", try using a dartboard instead.
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That one just made my day LMAO!!! I'm sure EMG wants to hear about it, but do tell me about woodies CCI!!

Thanks for your contribution Cloudy :) !!
 
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